Are you young and healthy? Or maybe you aren’t so young but you’re still healthy? If you answered yes then this is the best time for you to swing into action and get your biggest asset insured.

Did you know that your income is your biggest asset? Think about this…If you were 30 years old earning $70,000 per annum and your ability to work suddenly stopped due to an illness, the potential lost income is $2.5 million!! For most of us this is more than the value of our house…so why is it that some people don’t worry about insuring their income yet they insure their home? Remember it is your income that pays for your home!

Now, have a think about what you’d do if you couldn’t work …. if your partner couldn’t work for an extended period of time?

• How would you meet the repayment on your home loan?• How would you pay the bills when they come in?• How would you pay for the insurance premiums to protect your home, your car?• How will you feed your family?

You may be thinking…”I’ll just pay for it on the credit card and worry about it later”. I don’t know about you but this would totally stress me out…meaning my recovery from my injury or illness would be delayed even more due to stress!

The investment in your premium is well worth the peace of mind we get in return. Taking out insurance to protect our income not only gives us peace of mind and financial security but importantly it gives us choice.

The best time to take out insurance is when you think you don’t need it! When you’re young and healthy not only can you lock in level premiums, the chances of having exclusions or loadings are generally less.

People often make excuses about why they shouldn’t take out insurance, the first is “cost”. Yes, there is a cost, but what is the real cost of not having it? What would the burden be on your family if you die? The second excuse is “I don’t have the funds to pay for it”. Premiums don’t need to be a burden on your cash flow, there are many ways to structure insurance.

Top Tips For You

• Work out how much insurance you need for your situation• Understand what personal insurance you have now, is it enough?• Get some good comprehensive cover in place now

This information has been prepared to provide you with general information only. It is not intended to take place of professional advice and you should not take action on specific issues in reliance on this information. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any particular person. Before making a decision, you need to consider whether this information is appropriate to your needs, objectives and circumstances. If you seek financial advice please see a Financial Planner.